Leonardo, a multinational aerospace, defence, and security company, has recorded €11.7bn in new orders for the first nine months of 2022.
The figure is a 26.8% jump from €9.2bn registered in the same period a year ago.
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The increase in volume of new orders was attributed to positive commercial performance in core businesses, especially in the firm’s Helicopters division.
The Italian company posted revenues of €9.9bn, up 4% from the previous year’s €9.5bn, driven by the performance of the Helicopters business in military, as well as civil segments.
In the January-September period, the company’s earnings before interest, taxes, and amortisation rose 2.7% from €603m in 2021 to €619m.
Net result before extraordinary transactions stood at €387m. The figure represents a 69% increase from last year’s €229m.
The firm’s backlog totalled €37.4bn, equalling over two and a half years of production.
Leonardo CEO Alessandro Profumo said: “Our defence/governmental business remains strong, with growing opportunities both domestically and internationally.
“We are seeing a gradual recovery in civil aerostructures. We continue to manage the impact of pressures from inflation, supply chain, and other challenges of the external environment.
“These months has also seen important moves towards the closing of DRS and RADA deal. We have also strengthened our decarbonisation plan by committing to Science Based Targets Initiative.
“All of this makes us confident in the medium-long term value creation benefitting all our stakeholders.”
Leonardo upgraded its full-year guidance and expects to record over €16bn in orders and its net debt level to be approximately €3.0bn.
The company has also raised its free operating cash flow expectation to approximately €500m.
Earlier this year, Leonardo completed the acquisition of a 25.1% stake in the German defence technology company Hensoldt.
